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Asian markets trade mixed in early deals on Tuesday

12 Oct 2022 Evaluate
Asian markets traded mixed in early deals on Tuesday, due to risk aversion in the market after degrading global economic growth projections by the International Monetary Fund. Meanwhile, persisting lockdowns with the covid outbreaks, intensified geo- political tensions of Ukraine-Russia and US-China, lingering inflation, war-driven energy and food crises, and sharper interest rate hikes by Central banks spurred global recession risks. Moreover, investor sentiments also got dampened after China’s COVID cases mounted with the elevation in domestic travel during a holiday last week. Shanghai and Shenzen accelerating testing to twice a week, ahead of the Party congress starting October, 16th. Investors keenly awaited news that China's new yuan loans rose more than expected in September and that M2 Money grew as estimated. Japan’s Nikkei rebounded from earlier sessional loss with some technical correction and as local currency yen fell to a fresh 24-year low against greenback. While, Hang Seng dipped for the fifth session to trade around an 11-year low in tandem with the negative global cues overnight.

Nikkei 225 up by 37.81 points or 0.14% to 26,439.06, KOSPI lifted by 10.95 points or 0.50% to 2,203.02., Taiwan higher by 3.60 points or 0.03% to 13,109.63,and FTSE Bursa Malaysia KLCI lifted by 8.77 points or 0.63% to 1,378.05.

On flip side, Straight times down 11.26 points or 0.36% to 3,093.74, Hang Seng decreased by 16,495.52 points or 2% to 16,495.52, Jakarta Composite narrowed by 43.54 points or 0.63% to 6,895.61, and Shanghai shrunk by 36.55 points or 1.23% to 2,943.24.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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